and clogging up the board is the same guy who uses sleepingoneoff. I argued with him on the EGLE board and said that company would go under a couple of years ago and he swore vengeance and stated he would never stop, NEVER and vowed to spend hours a day trying to belittle me. LOL! What a sad existence.
“A poor (to put it mildly) corporate governance reputation could hamper interest from institutional investors, despite firming tanker sentiment,” he wrote in a client briefing. Webber is concerned that proceeds from the George Economou-led tanker operator’s initial public offering (IPO) will be used to acquire assets from related parties “at a premium”.
"This echoed commentary that industry veteran Omar Nokta, an equity analyst at Clarkson Capital Markets, shared with clients earlier in the week. On Monday the forecaster noted “much has been made” about a management fee that amounts to roughly $2,200 per vessel per day. “This is generally high and compares to current public company averages of between $600 and $1,000,” Nokta told clients."
Tankers and ORIG are all DRYS has. Bulkers suck and will likely suck for some time. Leaving DRYS without the support of the ten tankers good earnings will probably make it fail and this is now being shown in the share price. This could be where DRYS falls to a price so low for so long that they will have to go the way of FREE and NEWL.
Here's what Shell says:
"LONDON—Royal Dutch Shell PLC said Thursday it would curb its planned spending over the next three years by some $15 billion, freeze dividends at current levels and scale back shale investments to cope with weaker oil prices."
Shale. Not UDW. As a matter of fact, they also say:
"Mr. Henry said that if it gets U.S. government approval, Shell plans to revive its Arctic-exploration push, which encountered weather-related delays and problems including the grounding of an in-transit drill ship at the start of 2013."
Adding more about shale:
"Mr. van Beurden said Shell is re-evaluating shale properties world-wide and might divest itself of assets outside North America. Shell has shale properties in places such as Argentina, Turkey and China’s Sichuan Basin."
UDW is the future of oil exploration. Shale is too expensive and the wells dry up too fast.
And this is how most of the "Majors" are slashing cap ex. UDW spending will be higher this year than ever in the past. Check how many UDW rigs are drilling right now as compared to any time in the past. Oh, I should mention that there are many more UDW rigs than at any time in the past. Mid water and deep water is getting cut and those rigs are getting scrapped and replaced by Gen 6 UDW rigs.
Since Dec. 31, 135 million shares have traded and the price peaked at $5 around Jan. 9th. Seems like plenty of room for them to have sold the rest or a large chunk of them.
A spot rate is for the duration of the voyage. If they book a trip today, it won't even begin for at least a week or two, then it takes 6 weeks or more to complete. So "locking in spot" probably just means they have voyages lined up now that will take them through the quarter. Not that they are taking time charters.
You'd rather have them believe the BS you shovel to them. And it is some smelly load of BS you shove. You don't even seem to be able to understand the most simple concepts.
"The Baker Hughes rotary rig count fell 43 this week to 1,633 total oil and gas rigs working on land and offshore for the week ending Friday -- the lowest the count has been since August 2010."
"By early to mid-second quarter, "the rig count will be low enough that US production growth will be flat," said James Williams, president of energy economics group WTRG. "It will probably show up by June."
Then it will start falling. And the builds each week will turn into drops and oil prices will rise.
The report on the DHT website has more detail. Taking the results and ignoring the reversal of the writedown leads to a loss of $3.3 million for the quarter, including non-cash depreciation.
You sound like you really study the industry. How much gasoline does a VLCC carry?
This is of course, the same sleepingoneoff pursuing a two year old vendetta with multiple IDs and wasting hours of his life.
LOL! You don't seem to remember the protective puts. But that is the kind of person you are, adjusting the facts to fit your lies.
LOL! You crack me up. You spend hours here bashing SDRL and yet never made a nickel. That's hilarious. Why do you do it? Bored? Lonely?